Life insurance is one of the most important investments you can make for your family’s future. In the event of an unexpected loss, life insurance can help cover bills, maintain a family business, support your children’s education, secure your spouse’s retirement, and much more. If you’re looking to safeguard your loved ones’ financial well-being, we’d be happy to review your current coverage and offer personalized recommendations on how to best protect your future.
Term Insurance is the most affordable type of insurance when initially purchased, is designed to meet temporary needs. It provides protection for a specific period of time (the “term”) and generally pays a benefit only if you die during the term. This type of insurance often makes sense when you have a need for coverage that will disappear at a specific point in time. For instance, you may decide that you only need coverage until your children graduate from college or a particular debt is paid off, such as your mortgage.
Loans, credit card debt, estate costs, the funeral… most people leave behind unpaid expenses when they die, expenses that, if left unattended, burden their families tremendously. Final expense coverage is life insurance that pays off these debts, ensuring that everything will be taken care of if you pass.
Universal Life Insurance was created to provide more flexibility than whole life insurance by allowing the policy owner to shift money between the insurance and savings components of the policy. Premiums, which are variable, are broken down by the insurance company into insurance and savings, allowing the policy owner to make adjustments based on their individual circumstances. For example, if the savings portion is earning a low return, it can be used instead of external funds to pay the premiums. Unlike whole life insurance, universal life allows the cash value of investments to grow at a variable rate that is adjusted monthly.
Whole Life Insurance is a life insurance contract with level premiums that has both an insurance and an investment component. The insurance component pays a stated amount upon death of the insured. The investment component accumulates a cash value that the policyholder can withdraw or borrow against. As the most basic form of cash-value life insurance, whole life insurance is a way to accumulate wealth as regular premiums pay insurance costs and contribute to equity growth in a savings account where dividends or interest is allowed to build-up tax-deferred.
Term insurance is the most cost-effective type of coverage when purchased initially, designed to meet short-term needs. It provides protection for a specific period (the “term”) and typically pays a benefit only if you pass away during that time. This type of insurance is ideal when you need coverage for a temporary situation, such as until your children graduate from college or a significant debt, like your mortgage, is paid off.
Loans, credit card debt, estate expenses, and funeral costs—many people leave behind financial obligations that can place a heavy burden on their families. Final expense coverage is a type of life insurance designed to pay off these debts, ensuring that your loved ones aren’t left with the financial strain when you’re gone.
Universal Life Insurance offers more flexibility than whole life insurance by allowing policyholders to adjust the allocation of funds between the insurance and savings components. With variable premiums, the insurer separates the payment into insurance coverage and a savings component, giving policyholders the ability to modify their policy based on changing needs. For instance, if the savings portion isn’t generating a strong return, it can be used to cover premiums instead of relying on outside funds. Unlike whole life insurance, universal life policies allow the cash value to grow at a variable interest rate, which is adjusted monthly.
Whole Life Insurance is a type of life insurance that combines a fixed premium with both an insurance and an investment component. The insurance portion provides a predetermined death benefit, while the investment component accumulates cash value over time. Policyholders can borrow against or withdraw from this cash value. As one of the simplest forms of cash-value life insurance, whole life offers a way to build wealth. Regular premiums cover insurance costs and contribute to a savings account where dividends or interest grow tax-deferred.
We do not offer every plan available in your area. Currently, we represent 8 organizations which offer 75 products in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Assistance Program (SHIP) to get information on all of your options. This is a proprietary website and is not associated, endorsed or authorized by the Social Security Administration, the Department of Health and Human Services or the Center for Medicare and Medicaid Services. This site contains decision-support content and information about Medicare, services related to Medicare and services for people with Medicare. If you would like to find more information about the Medicare program please visit the Official U.S. Government Site for People with Medicare located at www.medicare.com
We do not offer every plan available in your area. Currently, we represent 8 organizations which offer 75 products in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Assistance Program (SHIP) to get information on all of your options. This is a proprietary website and is not associated, endorsed or authorized by the Social Security Administration, the Department of Health and Human Services or the Center for Medicare and Medicaid Services. This site contains decision-support content and information about Medicare, services related to Medicare and services for people with Medicare. If you would like to find more information about the Medicare program please visit the Official U.S. Government Site for People with Medicare located at www.medicare.com
